Svf Sponsor Iii (De) Llc Sells 3,500,000 Shares of Symbotic (NASDAQ:SYM) Stock

Symbotic Inc. (NASDAQ:SYM) major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $53.21, for a total value of $186,235,000.00. Following the transaction, the insider directly owned 5,590,000 shares in the company, valued at $297,443,900. This trade represents a 38.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Symbotic Stock Up 1.3%

Symbotic stock traded up $0.78 during mid-day trading on Monday, reaching $60.48. 4,177,431 shares of the company traded hands, compared to its average volume of 3,887,817. Symbotic Inc. has a 52-week low of $16.32 and a 52-week high of $87.88. The firm’s 50 day moving average price is $68.22 and its 200 day moving average price is $53.06.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). The company had revenue of $618.46 million for the quarter, compared to analysts’ expectations of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. Symbotic’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. Research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Symbotic by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,695,021 shares of the company’s stock valued at $253,062,000 after purchasing an additional 98,384 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Symbotic by 16.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,343,902 shares of the company’s stock worth $27,155,000 after buying an additional 187,538 shares during the last quarter. UBS Group AG grew its position in Symbotic by 22.3% during the third quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock valued at $59,601,000 after buying an additional 201,547 shares during the period. Raymond James Financial Inc. increased its holdings in Symbotic by 12.1% during the first quarter. Raymond James Financial Inc. now owns 980,922 shares of the company’s stock valued at $19,824,000 after buying an additional 105,616 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Symbotic during the third quarter valued at approximately $34,296,000.

Analyst Ratings Changes

SYM has been the topic of a number of analyst reports. UBS Group reissued a “sell” rating and issued a $35.00 price target (up from $27.00) on shares of Symbotic in a research report on Tuesday, September 23rd. Robert W. Baird upped their price target on shares of Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Oppenheimer reiterated an “outperform” rating and issued a $83.00 target price on shares of Symbotic in a research note on Tuesday, November 25th. Finally, Needham & Company LLC raised their price target on shares of Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $56.50.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.